Total monthly cost of ownership
Cost to Own a Home in Montgomery, Minnesota
A $219,000 home here costs
$1,886per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,126. The real number is $760 higher every month — 67% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Montgomery against Le Sueur County and Minnesota
| Measure | Montgomery | Le Sueur County |
|---|---|---|
| Median home value | $218,900 | $287,700 |
| Median property tax | $3,142 | $3,119 |
| Effective tax rate | 1.435% | 1.084% |
| Median gross rent | $896 | $885 |
| Population | 3,366 | 28,936 |
The weather behind that power bill
Montgomery sits in Le Sueur County, which averages a high of 81.9°F in its hottest month and a low of 3.1°F in its coldest, with 32.42" of precipitation a year and 42% of it in a single three-month stretch. That climate drives 577 cooling and 8,213 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Le Sueur County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Le Sueur County
Full Le Sueur County cost breakdown · Every county in Minnesota
Common questions
How much does it cost to own a home in Montgomery?
A $219,000 home in Montgomery, Minnesota costs approximately $1,886 per month with 20% down at 6.66%. That is $1,126 principal and interest, $262 property tax, $95 homeowners insurance, $220 utilities and $183 set aside for maintenance.
What is the property tax rate in Montgomery?
Montgomery has an effective property tax rate of 1.435%, based on a median home value of $218,900 and median real estate taxes of $3,142. That is higher than the Le Sueur County average of 1.084%.
What is the average home price in Montgomery?
The median owner-occupied home value in Montgomery, Minnesota is $218,900, against $287,700 across Le Sueur County.
Is it cheaper to rent or buy in Montgomery?
Median gross rent in Montgomery is $896 a month, against $1,886 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Montgomery — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Minnesota.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.